Japanese media: Japan's gold price breaks 15,000 yen/gram for the first time

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According to the news from the Japan News Agency on October 30, the retail price of gold in Japan exceeded 15,000 yen per gram for the first time on Wednesday due to the impact of the tense situation in the Middle East and the depreciation of the yen. The gold price (including tax) of Tanaka Kikinzoku Kogyo, a precious metal retailer in Tokyo, rose by 173 yen on Wednesday to reach 15,104 yen per gram. The conflict between Israel and Hamas has intensified geopolitical risks in the Middle East. An expert said that concerns about political uncertainty after the US presidential election next week are also one of the reasons people are buying gold. Gold futures prices also surged on Wednesday, pushing the key contract for Delivery in October 2025 on the Osaka exchange to a record high. A commodity analyst said, “Gold prices are expected to remain strong as there are no bearish factors in the near term.”

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